Vladislav Sopov
In line with the Telos Fuel Incentive Strategy, the network will become ApeSwap’s newest blockchain ecosystem, to which DeFi will be expanded
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- Major BSC dApp ApeSwap expands to Telos
- TLOS Airdrop announced to celebrate the integration
Telos Blockchain, a powerful programmable decentralized network, shares the details of the latest significant addition to its ecosystem.
Major BSC dApp ApeSwap expands to Telos
According to the official announcement of Telos, a new generation smart contracts platform, and ApeSwap, a BSC-based yield farming protocol and DEX with AMM, the two teams have entered into a long-term partnership.
We don’t fool around… or do we? 🙊🍌
👀 Telos – Are you ready? #TelosFuel #DeFi #TLOS $TLOS pic.twitter.com/qQZAyw30vA
— The Telos Foundation (@HelloTelos) October 12, 2022
With the new collaboration, ApeSwap will deploy its smart contracts to Telos, the “fastest EVM” ecosystem. This expansion is part of the Telos Fuel Incentive Strategy.
Therefore, Telos enthusiasts can take advantage of all the key elements of ApeSwap, including the decentralized exchange (DEX), yield farming module, cross-network bridges, and so on.
To sue
Six key assets from ApeSwap – BANANA, ETH, BTC, USDT, USDC, TLOS – are available for exchange immediately after the first joint release.
Justin Giudici, CEO of Telos Foundation, is impressed by the unmatched opportunities that the forthcoming collaboration will bring to both teams:
Many companies on the Web 3 want to innovate, but few actually do so. Ape Swap is one of those few. They are not just a platform, but a partner that truly thinks outside the box to offer users innovative solutions. Working with them on their Jungle Bills initiative was a seamless experience and we were thrilled to be on this journey with them.
TLOS Airdrop announced to celebrate the integration
Julian from ApeSwap also highlights that this integration is crucial for the interaction between the DeFi and TradFi financial systems:
The extension to Telos will help ApeSwap further bridge the gap between web2 and web3. With the incredibly fast transaction speeds and low fees available on Telos, we look forward to welcoming the next wave of new DeFi users to ApeSwap Telos
In order to create a healthy and saturated liquidity ecosystem for the launch of ApeSwap on Telos, 1 TLOS will be air-dropped to each GNANA holder.
To qualify for distribution, crypto users should hold at least 1 GNANA in their non-custodial wallets by October 20 (20:00 UTC). Users staking GNANA are also eligible for distribution.
As previously covered by U.Today, the Telos Foundation is addressing blockchain scalability issues that threaten all EVM users.
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